Description

Likely Finest Known 1785 North Carolina

North Carolina December 29, 1785 40s PCGS Choice About New
55PPQ.
Unpriced in both Newman and Friedberg, this note from the final
issue of North Carolina Colonials is one of the highlights of this
wonderful Southern States Colonial Collection. The notes from this
issue, as well as the prior issue, remained in circulation until
1816, which as Newman points out was 29 years after the issuance of
Bills of Credit by States was prohibited by the U.S. Constitution.
This very lightly handled note with a Justice vignette retains a
bold serial number and the signatures of Absalom Tatom and John
Hunt. Tatom (1742-1802) served in a number of public service roles
during his lifetime. He rose to the rank of captain in the
Continental Army during the Revolutionary War. Three years after
signing this note, he was a delegate to the convention which
considered ratifying the U.S. Constitution.

This piece is the finest yet graded by PCGS for the entire
eight-denomination issue. PMG has graded only three notes in total
for the entire issue, with none at this level. An extremely rare
note in any grade, and this piece is very likely the finest known.
The issue is unpriced in Newman, but they cite some auction
records: a VF Forty Shillings realized $3220 in October of '06, and
an XF 1s realized over $7000 in May of '05. In September 2009, we
sold a PMG 50 for $7475. This PCGS 55PPQ should easily break the
previous record for this type.From the Kings Mountain Collection